Wednesday, January 24, 2007

Honest Money Means Few Wars

Another Morgan Reynolds column I liked last year was Don’t Make Me Laugh: The Fed and Kept Media. In it, he lampoons an article by Marilyn Geewax called "New Fed chief to start amid growing Asian sway" that appeared in the Arkansas Democrat Gazette. Reynolds' critique is full of good points but I'm only going to mention one:
Wars would be rare if governments did not have access to fresh, new money. . . [The terrorist attacks in 2001] immediately became the pretext for military invasions and enormous government expansion, and that leads back to the Fed and its enabling operation.
How many people have made this observation, crucial as it is? Not enough.

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